I Was a Millionaire by 26: 3 Money Rules Every Young Person Should Know

Core Insights - The article emphasizes the importance of building a strong financial foundation in one's 20s, focusing on education and knowledge rather than immediate investment returns [1]. Group 1: Financial Education - Young individuals should utilize their free time to learn about finance, as time is a valuable resource when starting out [3][5]. - Investing in personal knowledge, such as studying real estate and private equity, can yield long-term benefits [4]. Group 2: Risk Management - There is a misconception that high risks are necessary for high rewards; however, low-risk investments can lead to substantial gains over time [6]. - The author shares a personal experience of losing over $100,000 in risky trades, highlighting the potential benefits of investing in safer assets like the S&P 500 Index Fund [6].